Tata Housing's Gateway Capital Project Over-Subscribed by 20 Times

Mumbai, India (PressExposure) April 23, 2013 -- Tata Housing, India's fastest growing real estate development company and a wholly-owned subsidiary of Tata Sons, today announced the outstanding over-subscription of its newly launched project - Gateway Capital, located at sector 112, Gurgaon. For the first time in the history of Indian real estate industry, Tata Housing introduced a unique strategy of selling its units through an IPO-styled concept by floating a range of Basic Sales Price in the market, from Rs.9000 psf to Rs.11000 psf.

Acceptance of Expression of Interest (EoI), along with a booking amount of Rs. 10 Lakhs, for the first phase consisting of 200 units started on 11th February and was closed on 28th February. During this period, Gateway Capital was over-subscribed 20 times at the pre-launch stage, with an astonishing 2200 application forms. The allotments will be made through a software generated, externally audited, random selection process, ensuring fair and transparent allotment process. Post the allotment process the customers will be given a choice to select an apartment of their preference.

Commenting on the announcement, Mr. Brotin Banerjee, MD & CEO, Tata Housing, said, "This overwhelming response Gateway Capital assures us that there is a demand for quality homes in the market, despite contradictory speculation. The sale, held via our innovative IPO-styled strategy witnessed interest from a wide base of customers from across India and abroad. A process of externally-audited and computerized random selection was implemented for the first time for a premium segment in the Real Estate Category and we generated an order booking worth Rs.450 crores in a single day."

Gateway Capital is an epitome of luxury. Strategically located in sector 112 and endowed with unique concepts of vertical greens and sky gardens, this new gateway aims to provide a perfect ambience to match high-end lifestyles. With the best in-class specification and world class amenities designed by internationally renowned architectural firm, a home at The Gateway Capital paves the way for an abode in the lap of luxury. The exquisite cluster of towers is spread across 28 acres of land, located on the Dwarka Expressway. The ultra-luxury apartments range from 2 & 3 BHK homes of 1550 sq.ft. to 2300 sq.ft., along with penthouses. Each building has been designed to have wings of varied heights, therefore giving a beautiful definition to the Gurgaon skyline.

About Tata Housing Development Company Limited

Established in 1984, Tata Housing is a closely held public limited company and a subsidiary of TATA Sons Limited. TATA Sons Limited holds 99.78% of equity share capital of the company.

Since its revival in 2006, the company has grown exponentially establishing itself as the fastest growing real estate developers in India, with 60 million sq.ft under various stages of planning and execution and an additional 19 million sq.ft in the pipeline. Tata Housing has stood out in the industry with quality construction, ethical and transparent business practices, rapidly acquiring an image as a Quality Conscious and Reliable Developer.

Today, Tata Housing is developing large townships and differentiated theme based projects in major and mini metros. As a comprehensive real estate developer of choice, Tata Housing straddles across all consumer segments from value to luxury housing, by offering products ranging from Rs. 5 lakhs to Rs. 14 crores. All projects developed by Tata Housing are certified sustainable green developments, designed by top internationally renowned architects.

With strength of over 650 employees, and presence in Mumbai, Lonavala, Talegaon, Pune, Ahmedabad Goa, Gurgaon, Chandigarh, Bengaluru, Chennai, Kolkata and Bhubaneswar; the company is now in the process of expanding its footprints to other parts of India across tier I and II cities. The company has also ventured into foreign markets such as Maldives and is actively exploring other markets including Sri Lanka and other South Asian countries.

Tata Housing has been receiving various industry recognitions and accolades, both on domestic and international platforms. For additional information, visit: http://www.tatahousing.in

About Edelman

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TATA Housing

Vikram Kharvi |vikramkharvi@tatahousing.com | +91 99301 43550


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Press Release Submitted On: April 23, 2013 at 7:32 am
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